30 Mar 2022 · 2 min read

Bitcoin and Ethereum Consolidate Gains, AAVE and CHZ Rally

 

  • Bitcoin price is consolidating below USD 47,500.
  • Ethereum corrected below USD 3,400, XRP is stuck near USD 0.85.
  • CHZ and AAVE are the best performers among the top 100 coins today.

Bitcoin price failed to stay above the USD 48,000 level and corrected below USD 47,500. It is currently (04:53 UTC) consolidating gains near USD 47,150 and might remain well bid above the USD 46,200 support zone.

Similarly, most major altcoins are consolidating gains. ETH tested USD 3,480 before it dipped below USD 3,400. XRP failed to clear USD 0.90 and corrected lower. ADA struggled to stay above the USD 1.20 support zone.

Total market capitalization

Source: tradingview.com

Bitcoin price

After a move above USD 48,000, bitcoin price faced sellers. There was a move below the USD 47,000 level but the price remained well bid near the USD 46,500 level and BTC moved back above USD 47,000 again. BTC is now down less than 1% in a day. The next major support is near USD 46,200, below which the price might test USD 45,500.

On the upside, the price might face resistance near the USD 47,880 level. The next major resistance is near the USD 48,000 level, above which the price could surpass USD 48,200.

Ethereum price

Ethereum price faced sellers just below the USD 3,500 resistance and is now down less than 1% in a day. ETH corrected lower and traded below the USD 3,400 level. On the downside, the price might find support near the USD 3,350 level. The next major support is near the USD 3,320 level, below which the price might struggle to stay above USD 3,300.

On the upside, the price might struggle near USD 3,440. The next key resistance might be near the USD 3,480 level, above which the price could gain bullish momentum.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) started a downside correction from the USD 1.245 resistance zone. It declined below the USD 1.22 and USD 1.20 support levels. If the bears remain in action, the price might even test the USD 0.165 support.

BNB is moving lower towards the USD 425 support level. If there are additional losses, the price may perhaps test the USD 412 support zone. On the upside, the USD 435 level is a short-term barrier.

Solana (SOL) spiked to test the USD 115 level. It is now correcting lower and trading near USD 110. If the price slides below USD 105, it could find a strong buying interest near the USD 100 level.

DOGE retreated from the USD 0.150 resistance zone. It is now moving lower toward the USD 0.140 level. The next major support is seen near the USD 0.135 level, below which the bears might gain strength.

XRP price spiked above the USD 0.90 level before there was a bearish reaction. The price is now trading below the USD 0.865 level and testing USD 0.85. The next major support is near USD 0.820.

Other altcoins market today

A few altcoins are up over 5%, including NEAR, ETC, WAVES, HBAR, CHZ, RUNE, AAVE, GRT, NEO, and KCS. Out of these, CHZ jumped 17%, reached USD 0.31, and increased its weekly gains to almost 49%. Meanwhile,  AAVE gained 25% and cleared the USD 220 level. The price is also up 43% in a week.

Overall, bitcoin price is consolidating gains near the USD 47,000 level. If BTC stays above USD 46,200, it could start a fresh increase. Conversely, it might correct lower to USD 45,500.

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